Wrap Technologies, Inc. (NASDAQ: WRAP), a non-lethal weapon and virtual reality simulator manufacturer, is expanding its pilot training programme in Los Angeles. This news boosted the value of prices this week. THE WRAP share was worth $2.11 at the time of trading on August 25. The market capitalisation at the time was $91.17 million.
Wrap is now deploying its BolaWrap 150 non-lethal gadgets to the Los Angeles Police Department. They will first be equipped with troops operating in the city centre and Hollywood.
The contract calls for the delivery of 500 remote immobilisation devices. However, if Wrap is successful, it will be able to secure additional significant contracts because these units are well-known among professionals as well as in the media, including social networks and film.
The first part of police training in Los Angeles took place in April 2022, the second in May, and now the deployment of all 500 devices in daily work has begun. Wrap items will thus be exhibited in a zone populated by almost 4 million individuals.
There will very definitely be fresh recordings on the usage of BolaWrap with few health implications for inmates, as well as police reviews that may be of interest to other department leaders.
Furthermore, the present 500-device initiative is a trial programme that might be expanded to include the whole Los Angeles Police Department in the future.
Wrap sells security training services using VR simulators in addition to non-lethal weapons (which are already certified in countries other than the United States). Simulators are successfully offered under the long-term registration system and can serve as a secondary source of growth as well as a source of consistent cash flow wrap.
Wrap Technologies Inc. (NASDAQ: WRAP) stock is up 3.94% in the last week but down -12.45% in the last quarter. Going back farther, the stock’s price has down -6.64% in the previous six months but is down -46.31% year to date.